Ostrovok.ru, the Russian accommodation booking startup, has announced a $12 million financing round investment led by Vaizra Capital Russia, a fund backed by Vyacheslav Mirilashvili and Lev Leviev, co-founders of Vkontakte, Russia’s largest social network.
The cash will be used to expand the service more internationally and develop the product. Previously, it had raised $38.6 million.
Last month Kirill Makharinsky, the co-founder of Ostrovok, departed the company. His co-founder Serge Faguet remains on board as CEO.